Trump Org fined just $1.6M for tax crimes — but experts say "it spells doom" for the company

Former President Donald Trump's real estate company was convicted in December for giving illegal perks to executives. Allen Weisselberg, one of the top executives at the business who testified that he orchestrated the years-long scheme, pleaded guilty and testified that he received off-the-books perks during his time at the company. On Tuesday, Weisselberg was sentenced to five months at the infamous Rikers Island jail in New York.

While the financial penalty is small for a company like the Trump Organization, the verdict made it known that the company broke the law, and handed more evidence to the former president's political opponents. There is also the chance of a criminal investigation by prosecutors into Trump for his role in the financial scheme, and the former president and his family still face a $250 million civil tax fraud lawsuit from New York Attorney General Letitia James.